Try These Facebook Lookalike Audiences At Your Own Risk – They Might Take Your Business To The Moon
Why would you even bother creating lookalike audiences?
To find similar or better quality audiences and reduce ad costs.
In this post, I`ll show you some of the most profitable lookalike audiences you can create on Facebook. It will also serve you as a source of targeting ideas for your next campaign.
But before we dive into it, a word of warning…
Try them at your own risk. They could just launch your business straight into the moon!
I might not be an astronaut but I`ll do my best to guide you through the planet called Facebook Lookalike Audiences.
What You Must Know About Facebook Lookalike Audiences
You probably already know that these lookalike audiences are created based on custom audiences.
Also, remember that you need at least 100 people per country in your custom audiences in order to create lookalikes.
But there`s one other thing you should absolutely know before heading into this dangerous (in a good way) planet of lookalikes.
When you set these up, there`s gonna be sort of a meter at the bottom. This is really important, the higher the number on that scale, the broader and less similar your lookalike will be to the original audience.
Conversely, the lower the number, the more targeted and similar it will be to the original or custom audience.
I like to keep it between 1 and 3. But you can test with broader matches if you want.
Lookalike A – Fan Page Engagement
Within the group of people that follow your page, a certain percentage actively comments and likes your posts. That`s called engagement!
These folks like your content and most importantly resonate with it.
So you can basically create lookalike audiences of people that have engaged with your page to find more folks who are likely to resonate with your message.
Instead of taking a gamble using interest targeting, with this audience, at least you know those people are likely to be interested in what you have to say or offer, which will inevitably lower your ad costs.
Lookalike B – Email Subscribers
Why would you want to create lookalikes of your email subscribers?
Duh… these people gave you permission to basically sell to them. The smart thing to do is find more audiences who are like that.
All you have to do is upload a file to Facebook with info about your email list.
You can even get smarter and segment your email list to only create a lookalike based on your most active subscribers, for example.
But wait… what if you then take that lookalike and use it in a campaign where they have to opt-in to receive a freebie? Easy money!
Lookalike C – Offline Activity
A lot of entrepreneurs in the service-based business forget to use this one.
This lookalike can be a tremendous source of revenue simply because you`re creating a list of people similar to the ones that have either bought from you offline or have been in more personal contact with you.
For example, you can upload a list of people who have had a discovery or introduction call with you and let Facebook find more of those people.
People who are likely to jump on discovery calls, that is!
Lookalike D – Most Valuable Customers
Again, you`re uploading a file aka spreadsheet with this one to create your custom audience first!
But this time, you`re gonna upload a list of your customers, and here`s the catch… with LTV (customer lifetime value).
This LTV thing lets you determine exactly who are your best customers. It`s one of the most powerful lookalike audiences you can create. Why?
Because it makes things easier…
Instead of going after cold audiences, you can use this lookalike in a campaign to target potential buyers. Now, that`s really cool!
Facebook`s Algorithm Is Smarter Than You Think
If you`re still doubting the power of these lookalike audiences, then you`re underestimating how good Facebook`s algorithm is.
Facebook uses thousands of data points collected from users to determine their behavior patterns on the platform. It then uses those behavior patterns to find similar people!
I`ve shown you some of the best lookalikes you can create to maximize your ad spend.
Now, it`s your turn to give them a shot and see how they perform for you.
Let me know in the comments, which of these are you going to try in your business?
Pedro is the founder of Advertongue, a performance based digital advertising agency. He´s also a customer acquisition strategist for companies and experts all over the world.